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Bayer To Develop Cancer Treatment With Amgen

FRANKFURT -(Dow Jones)- German chemical and pharmaceutical company Bayer AG (BAYN.XE) said Tuesday it has agreed with Amgen Inc. (AMGN) to develop and commercialize a new antibody for treating cancer. MAIN FACTS: -Financial details of the deal weren't disclosed. -Bayer will collaborate with Amgen at its Munich site from the research phase to the completion of initial clinical trials. -After the initial trials have been completed, Bayer will be responsible for further development and commercialization of the product candidate. -In 2009, Bayer had entered into an agreement with Micromet, Inc. to produce another antibody. -Micromet was acquired by Amgen in early 2012. -Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500

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